Define network organization? What are important features of network organization?

Network Organization : Network organization is an inter firm organization in which is characterized through organic or informal social systems. A company or group of companies in which has a minimum of formal structures and relies instead on the formation and dissolution of teams to meet exact objectives.

Features of Network Organization:

1. The organizations are learning in which business can be completed in a more effectual manner if emphasis is placed upon cooperation, shared responsibility and networking:
• Within the organization
• And also with their customers and suppliers
2. Changes according to the demand of the times
3. Works efficiently to meet the business targets of the organization
4. Everyone has a feeling in which he/she is playing a main role in the organization that eventually provides a feel of ownership and because of in which employee can put his best effort to accomplish a task.